Mobile Streams (LON:MOS) is set for a cash boost after it sold the URL for ringtones.com for US$750,000.
The premium URL was related to the company’s original business, and it has earmarked some of the proceeds for reinvestment into its new appitalism.com business.
"Ringtones.com was the domain name that started the Mobile Streams content business,” chief executive Simon Buckingham said.
“However, as we reinvent the company for the coming wave of open mobile services and apps, we are looking ahead to the exciting opportunities that our new Appitalism.com service presents.
“We want to ensure that the company has the appropriate financial resources necessary to take full advantage of the rapidly growing apps market."
Appitalism.com is focused on new types of content for mobile devices - like apps, games, music and eBooks.